VALUE RELEVANCE OF SEGMENT REPORTING DISCLOSURE

The objective of this research was to verify if segment information, specifically net income and shareholders 'equity by segment, are relevant to investors' decision making. The survey sample is composed of 26 non-financial companies listed on the Ibovespa index, considering the period from 2010 to 2014. The results suggest that, for the sample considered, the consolidated stock information per share and net earnings per share are more relevant for the decision making process than this information segregated by business segment. The net earnings per share of the second and third segments were relevant to the decision making process, since the stockholders 'equity figures per share were not relevant to change the investors' decision. Thus, it is concluded that the net earnings per share information of the second and third business segment are value relevance and that net equity per segment can not be considered relevant for decision making.